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🗞️ Last week’s Pharma industry news in Germany and Switzerland 🗞️ Moderna is broadening its collaboration with OpenAI, leveraging AI to foster employee productivity and expedite its ambitious biopharmaceutical development plans. Novartis plans to welcome former BMS CEO Giovanni Caforio as its new chairman, signaling a strategic focus on transformative mergers and acquisitions. Medigene AG has reported its Q1 2024 financial results, emphasizing progress in TCR-T therapies and a capital raise to extend its operational runway. Idorsia Pharmaceuticals Ltd' JERAYGO, a treatment for resistant hypertension, is poised for European approval after receiving positive feedback from the EMA's committee. Mainz Biomed has shared encouraging study results, enhancing the potential for FDA approval of their next-gen diagnostic tools for colorectal cancer screening. Roche has seen a slight increase in Q1 sales, attributed to robust growth in pharmaceutical and diagnostic divisions. Vivoryon Therapeutics N.V. reported disappointing outcomes in Alzheimer's research, pivoting their focus towards potential kidney disease treatments with their drug varoglutamstat. ITM Isotope Technologies Munich SE, Helmholtz Munich, and University Hospital Münster have initiated a Phase I trial investigating ITM-31 for treating glioblastoma, marking a significant step in radiotherapeutic cancer treatment. Addex Therapeutics disclosed that their epilepsy treatment, ADX71149, failed to meet primary study goals but remains under analysis for future therapeutic development. Novartis has achieved FDA approval for Lutathera, a pioneering pediatric treatment for gastroenteropancreatic neuroendocrine tumors. Novartis delivered a strong financial performance in Q1 2024, driven by key products and significant growth in core margins, leading to an optimistic annual forecast. #pharmaceuticalindustry #pharma #Monday_Pharma_News

Below are some exciting updates which have taken place within the Biotech/Pharma industry over the last week. 💥 - Elixir Associates 🍾 - BlossomHill Therapeutics, Inc. successfully closed a $100 Million Series B funding round. The company focuses on small molecules for Cancer & Autoimmune Diseases, with plans to move two Oncology programs into Phase 1 Clinical Trials.✅ 🍾 - Denali Therapeutics, a US neurodegenerative diseases focussed biotech saw its shares rocket more than 38% to $23.35, on news of a $500 Million private placement.✅ 🍾 - Kenai Therapeutics have successfully announced a $82 Million Series A Financing to Advance Next Generation Allogeneic Cell Therapies for Neurological Diseases.✅ 🍾 - Idorsia Pharmaceuticals Ltd has survived a high-wire financing act. Weeks from the end of its cash runway, the biotech has secured $350 Million upfront from Viatris in exchange for the global rights to two phase 3 candidates.✅ 🍾 - Viking Therapeutics, Inc. shares have more than doubled after clinical trial data for the company’s weight-loss drug outperformed existing treatments from drugmakers Novo Nordisk & Eli Lilly and Company.✅ 🍾 - Janux Therapeutics have priced a $296.5 Million public offering of common stock & pre-funded warrants. Janux focuses on tumor-activated immunotherapies using its TRACTr and TRACIr technology for various cancers, including prostate and lung cancers.✅ 🍾 - Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) have priced a $150 Million public offering. The funds are aimed to support the commercialization and development of treatments in immuno-dermatology.✅ 🍾 - Crinetics Pharmaceuticals, a clinical-stage company focused on developing treatments for rare endocrine diseases & related tumors, is expected to generate gross proceeds of around $350 million before deducting expenses related to the offering.✅ 🍾 - Celldex Therapeutics have completed an upsized $400 Million public offering. The Funds will advance their lead candidate, barzolvolimab & bispecific antibody platform.✅ #Elixir #IndustryUpdates #Biotechnology #Pharma #IPO #News #FDA #Mergers #ClinicalTrials #Approvals #Announcements #Aquisitions #Investments #Clinical #Medical #Funding #Public

Stories making headlines today in the biopharma industry: In the proteomics domain, which was previously overshadowed by DNA sequencing, there's been a notable surge of growth highlighted by billion-dollar transactions, a $1.4 billion multinational collaboration, and new research indicating that a proteomics-based cancer diagnostic could compete with DNA-based alternatives. In other updates, Galapagos has suspended its autoimmune diseases-focused development of a CD19 CAR-T candidate, including for systemic lupus erythematosus, due to increasing competition in this field. Instead, Galapagos's attention will now pivot towards oncology, where it envisages the most significant impact. Amgen has reiterated its commitment to rare disease research, observing the financial potential of its blockbuster treatments and promising pipeline drug candidates. This announcement occurs in the wake of substantial investor interest regarding Amgen's obesity treatment prospects, especially given the encouraging data for its obesity drug, Maritide. In news of corporate restructuring, Clade Therapeutics has let go of several employees in the US and Europe and appears to have shut down its Dutch subsidiary, Gadeta. Clade, an off-the-shelf cell therapies developer, had acquired Gadeta as part of its expansion strategy. On the regulatory front, the FDA has issued a Complete Response Letter (CRL) to Melinta Therapeutics and Venatorx Pharmaceuticals for their urinary tract infection antibiotic, requesting further information on the product's chemistry, manufacturing, and controls. AI start-up Abridge has secured $150 million in a Series C funding round. The company specializes in transforming patient-doctor interactions into notes using AI. The newly raised funds are expected to boost team expansion and further development of its healthcare-focused AI technology. Lastly, in a recent investor call by Amgen, significant progress was highlighted in three drugs. The rare-disease drug, Tepezza, already approved for thyroid eye disease, was given specific focus. The company is set to commence work on a subcutaneous formulation of this drug soon. #pharma #biotech #topstories #biodatastudio

Stories making headlines today in the biopharma industry: Biogen is gearing up for significant acquisitions in 2024, planning to invest between $5 billion to $8 billion. Adam Keeney, Biogen's head of corporate development, indicated a greater appetite for mergers and acquisitions than previously communicated. This follows Biogen's $7.3 billion acquisition of Reata Pharmaceuticals, Inc. last year. Daiichi Sankyo US - HER3 antibody-drug conjugate patritumab deruxtecan faced an FDA rejection, delaying its ADC market expansion and Merck partnership. The delay is due to a third-party manufacturing inspection, not safety or efficacy. To enhance its inflammatory bowel disease pipeline, AbbVie acquired Celsius Therapeutics for $250 million. This move includes Celsius's Phase 1-completed CEL383 and signifies AbbVie's commitment to expanding its immunology portfolio. Paul Negulescu of Vertex Pharmaceuticals discusses advancements in non-opioid pain treatments and the role of AI. Reflecting on the successful acquisition of Aurora Biosciences Corporation, Vertex continues to focus on innovative pain management therapies. Silence Therapeutics plc Phase 1 data for a polycythemia vera therapeutic shows promise, leading to plans for a Phase 2 trial aimed at reducing therapeutic phlebotomy. This announcement boosted Silence's shares. Recursion launched a $200 million public share offering to fund clinical programs, with plans for seven clinical readouts in the next 18 months. Sanofi invested $40 million in Vigil Neuroscience, acquiring first negotiation rights for Vigil's VG-3927, an Alzheimer’s candidate. Maze Therapeutics launched a new company to advance its ALS antisense program, focusing on pioneering therapies for this neurodegenerative disease. Verona Pharma received FDA approval for a new COPD treatment, marking a significant milestone in providing therapeutic options for COPD patients. EUROAPI plans to cut 550 jobs and divest two manufacturing facilities in a bid to restructure and focus on core operations, reflecting broader industry trends of cost-cutting and strategic realignment. AbbVie and Genmab secured accelerated FDA approval for Epkinly in follicular lymphoma, providing a new therapeutic option and highlighting the success of their collaboration. Researchers developed a new gene editing technique without using CRISPR, enabling potentially safer and more versatile genetic modifications. This advancement continues the evolution and innovation in genetic research. #pharma #biotech #topstories #biodatastudio

What's up in the #pharmaindustry ? Strategic investments continue ... but reduction in deal activity by 26.1 % compared to May 2023. Companies still leveraging targeted #funding strategies to drive #innovation and address critical #healthcare needs amidst industry changes. 3 major transactions accounted for 51% of the total deal value in May - Merck announced its acquisition of #Eyebiotech for USD 3bn, aiming to advance therapies for #eye #diseases - Biogen’s acquisition of #HumanImmunologyBiosciences for approximately USD 1.8 bn aimed to strengthen its offerings in immune-mediated, #allergic, and #inflammatory disease therapeutics - Novartis’s acquisition of Mariana Oncology for an estimated USD 1.7bn represented a strategic expansion into novel radioligand therapies for #cancer treatment. #Venture capital investments decreased by 8.3 % in May 2024 compared to May 2023, 97 VC deals worth USD 3 bn reported in May 2024, compared to the previous 12-month average of 110 deals worth USD 2.7 bn. - AltruBio Inc., a clinical stage #biotechnology company dedicated to the development of novel therapeutics for the treatment of immunological diseases, raising USD 225 m in series B financing to advance the clinical development of novel immune checkpoint enhancer program - Zenas BioPharma, a #biopharmaceutical company, raising USD 200 m in series C financing to advance mid and late-stage immunology-focused clinical development programs - Theras, BridgeBio Oncology Therapeutics, raising USD 200 m in financing to accelerate the development of its novel precision #oncology #pipeline #healthcare #biotechnology #venturecapital #m&a

Skye Bioscience Inc.: 2023 Year-in-Review and Next Steps in 2024 In 2023, Skye continued its commitment to pioneering therapies targeting the endocannabinoid system, particularly focusing on the cannabinoid receptor 1 (CB1). Our strategic merger with Bird Rock Bio reinforced our conviction in CB1 as a vital development target. Highlights of 2023: Clinical Pipeline: We completed Phase 1 trials for SBI-100 OE, a topical CB1 agonist, showing a promising safety and product profile and initiated a Phase 2 study in glaucoma patients. We also filed an IND for nimacimab, a CB1 inhibitor, to initiate a Phase 2 study in obesity and chronic kidney disease. Strategic Acquisitions: We acquired Bird Rock Bio and concluded the sale of assets from Emerald Health Therapeutics. Capitalization: Achieved financial milestones and secured investments from top-tier dedicated life science investors. Innovative Research Pipeline: Licensed SBI-100 to Tautomer Bioscience for a new product opportunity in chronic pain and advanced IP from our cannabinoid pharmaceutical innovation program. Looking ahead to 2024: Nimacimab Development: Initiate Phase 2 study for obesity and chronic kidney disease patients. SBI-100 OE Development: Complete Phase 2 studies for glaucoma and ocular hypertension patients. Corporate Strategy: Continue to explore growth opportunities and strengthen our operational framework and team development. With the ground work in place for both clinical assets during this past year. We are particularly excited about nimacimab, designed to peripherally target CB1, as a first-in-class antibody. We believe nimacimab’s unique mechanism for weight loss and related co-morbidities, provides an advanced alternative in this emerging space. We're strategically targeting patient populations with multiple metabolic-related conditions for nimacimab's Phase 2 study, ultimately aligning strategically with the trend towards combination therapies for metabolic diseases. Congrats to the entire Skye team for their hard work and dedication even while navigating the current biotech landscape, 2023 certainly marked significant progress, setting the stage for the future. We wish everyone a joyful holiday and a successful 2024 and look forward to seeing our life sciences colleagues in San Francisco in the new year. Best regards, Punit #2023goals #2024outlook

SAN DIEGO, Calif., and SHANGHAI, China, May 23, 2024 - Degron Therapeutics (“Degron”), the company using its molecular glue-based targeted protein degradation drug-discovery platform to advance human health, today announced it has entered into a collaboration and exclusive license agreement with Takeda to discover and develop novel molecular glue degraders for multiple targets in oncology, neuroscience, and inflammation. Degron and Takeda will collaborate to utilize Degron’s GlueXplorer® platform to identify, validate, and optimize molecular glue degraders for specific therapeutic targets selected by Takeda. Upon reaching a certain stage of advancement, the projects would be transitioned to Takeda for further development and commercialization. “We are excited to collaborate with Takeda, expanding the use of our platform into new therapeutic areas,” said Lily Zou, Ph.D., co-founder and CEO of Degron Therapeutics. “Degron’s differentiated and powerful GlueXplorer platform has been validated by its robust, first-in-class pipeline of novel molecular glue drugs for disease targets that are undruggable by other modalities or better addressed with this new modality. By partnering with Takeda, we combine our molecular glue discovery expertise with Takeda’s vast drug development and commercialization experience in hopes of offering patients worldwide a new class of treatments." Under the terms of the agreement, Degron Therapeutics will receive an upfront payment and is eligible to receive potential future preclinical, clinical development and commercial milestone payments that could total $1.2 billion if all related milestones are achieved over the course of the agreement. Degron is also eligible to receive tiered royalty payments on sales of any potential commercialized products. The parties have the option to expand the collaboration to include more targets. Additionally, Takeda will make an equity investment in Degron. Degron Therapeutics will retain full ownership of its pipeline programs. “Molecular glue degraders are a new class of drugs that can be directed at targets previously inaccessible or inadequately modulated by other treatment modalities," said Chris Arendt, Chief Scientific Officer, Head of Research at Takeda. “This collaboration with Degron not only adds an innovative new platform to our drug discovery toolbox, it is also an example of cutting-edge innovation emerging in the exciting China biotech sector.” For more information, please visit https://lnkd.in/gCbMPmJw #Takeda #MolecularGlueDegraders

👇 𝐓𝐡𝐞𝐬𝐞 𝐚𝐫𝐞 𝐲𝐨𝐮𝐫 𝐭𝐨𝐩 𝟓 𝐧𝐞𝐰𝐬 𝐬𝐭𝐨𝐫𝐢𝐞𝐬 𝐚𝐫𝐨𝐮𝐧𝐝 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐝 𝐭𝐡𝐢𝐬 𝐰𝐞𝐞𝐤 👇 1️⃣ Novo Holdings, a leading life science investor, has invested £50 million in Oxford Nanopore Technologies, a UK-based company known for its advanced molecular sensing technology. The investment highlights confidence in Oxford Nanopore’s potential in the biopharmaceutical sector. 📰 https://lnkd.in/eEpFY6ep 2️⃣ GSK and Flagship Pioneering have announced a collaboration, committing $150 million to explore potential respiratory and immunology programs. This partnership aims to develop up to 10 novel medicines and vaccines, with GSK holding exclusive rights for further development. The deal could result in up to $7.2 billion in milestone payments if all programs succeed, although this is unlikely given the high failure rate in drug development. 📰 https://lnkd.in/eWm3Eztt 3️⃣ Roche, through its Genentech arm, has licensed Sangamo Therapeutics’ gene repression technology targeting the tau protein, believed to be a key driver of Alzheimer’s disease. The deal, valued at nearly $2 billion, includes $50 million upfront with the potential for significant milestone payments. This collaboration focuses on developing genomic medicines for neurodegenerative diseases, leveraging Sangamo’s zinc finger molecules and novel delivery methods to overcome challenges in treating brain conditions. 📰 https://lnkd.in/eNQYWtK9 4️⃣ Jade Biosciences, a biotech company focused on developing therapies for autoimmune diseases, secured $80 million in funding. The investment will support the development of targeted biologics aimed at unmet medical needs in inflammation and immunology. 📰 https://lnkd.in/eF9xya2k 5️⃣ NorthStar Medical Radioisotopes and Convergent Therapeutics have expanded their collaboration for CONV01-α, a prostate cancer therapy. This partnership involves NorthStar providing high-purity Ac-225, a key component in the treatment, and manufacturing the drug for clinical trials. 📰 https://lnkd.in/eRJgw7SP #FinancialDevelopments #LifeSciences #NewsRoundUp

Check out some of the recent significant funding events in the biotechnology and pharmaceutical sectors from August 2024: 💰 Outpace Bio secured $144 million in Series B funding on August 2, 2024, to advance AI-powered cell therapies into clinical development, backed by RA Capital Management. 💸 NanoHive Medical raised $7 million in Series C funding on August 6, 2024, to expand its U.S. commercial operations and enter international markets with its 3D-printed titanium spinal interbody fusion devices. 💵 NeuroTherapia, Inc. received $12.3 million in the first close of its Series B funding on August 7, 2024, to further develop NTRX-07, an orally available treatment for Alzheimer's disease. 💲Pathalys Pharma secured $105 million in Series B funding on August 21, 2024, to support NDA submission and pre-commercialization efforts for upacicalcet, a kidney disease treatment. 💶 leon-nanodrugs GmbH's undisclosed Series D funding on August 6, 2024, will enhance their portfolio in single-use high throughput production systems for nanoencapsulation. 💰 MBX Biosciences, Inc. raised $63.5 million in Series C funding on August 5, 2024, to back ongoing Phase 2 clinical studies for endocrine and metabolic disorder treatments. 🤑 PreciseDx closed $20.7 million in Series B funding on August 21, 2024, to drive the expansion of commercialization efforts for their AI-powered cancer risk assessments.